Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, is a leading African corporate and investment bank and part of one of the largest financial services groups in Africa. We offer our clients innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions.
As the corporate and investment banking arm of FirstRand Bank Limited (which is wholly-owned by FirstRand Limited), RMB has access to a network of retail banks in 25 African countries, as well as branches and representative offices in Namibia, Botswana, Nigeria, Angola, Kenya, the UK, India, China and the Middle East.
The role holder will provide day-to-day support to the CRO in overseeing the credit, market, liquidity, and operational risk management framework of the Bank by ensuring the risk appetite and other risk control procedures and standards meet both legal and regulatory requirements, are appropriate for the Bank’s activities, and upholds the integrity and transparency of the Bank’s risk/return decisions.
Risk Management
- Oversee the Identification, assessment, measurement, monitoring, and control of Enterprise-Wide risks by risk owners (Credit risk, Operational risk, Market risk, Compliance, Legal risk.
- Ensure adequacy of and coordinate the overall risk management processes of the Bank at all levels.
- Champion and coordinate regular updates of the Bank’s risk policy reviews and approvals, while supporting the entrenchment of risk culture and ensuring adherence to risk policies within the Bank.
- Review the different risk components (portfolio) and advise the Executive Management and the Board of changes as may be necessary.
- In collaboration with the GTSY, support the management of the Capital Adequacy of the Bank by measuring, reporting, and advising on items that consume capital charge/capital allocation. Additionally, supports the Assets & Liability Management process in ensuring optimal liquidity, maximizing returns, and closing liquidity gaps.
- Review and make recommendations on Credit Facility requests for approval before they are approved.
- Implement and ensure compliance with Basel guidelines.
Compliance
- Work closely with the CCO in engaging regulators and supporting regulatory advocacy initiatives
- Maintain an open and cooperative relationship with the regulators.
Strategic Planning
- Review and guide the Risk Management Framework of all the risk pillars from an ERM perspective
- Participate in the formulation and implementation of the ERM strategy
Reporting
- Provide quality risk management reports to Management Committees and the Board Risk as well as Credit Committees
- Provide routine status updates on risk strategy implementation
- Present on Risk Management issues to relevant Management and Board committees
Business Continuity Management
- Work closely with the Operational Risk team in the management of the BCM processes
Environmental Social and Governance Risk Management
- Manage Environmental & Sustainability risks and contribute to the Bank’s sustainability & environmental initiatives.
- Actively drive the ESG Steerco
ICAAP/ILAAP
- Provide Risk input into the ICAAP and ILAAP processes
Capacity Development
- Support the CRO in assessing competency gaps in the risk team
- Identifying suitable risk management training options and facilitators
- Driving innovation
Skill Requirements
- Analytical Skills: The ability to analyze complex data and identify potential risks is crucial. This involves assessing various risk factors and their potential impact on the organization.
- Decision-Making: Ability to make informed decisions about risk management strategies and determine the best course of action to mitigate risks.
- Communication: Effective communication skills are essential for explaining risk assessments and strategies to stakeholders, including the board of directors and senior management.
- Leadership: Strong leadership skills to guide and influence the risk management team and ensure that risk management practices are integrated throughout the organization.
- Financial Acumen: A solid understanding of financial principles is important for assessing financial risks and making decisions that impact the organization’s financial health.
- Regulatory Knowledge: Familiarity with relevant regulations and compliance requirements is critical to ensure the organization adheres to legal standards and avoids penalties.
- Problem-Solving: The ability to develop innovative solutions to complex risk-related problems.
- Strategic Thinking: Ability to think strategically about how risks can impact the organization’s long-term goals and objectives.
- Technical Proficiency: Knowledge of risk management software and tools to facilitate the ability to monitor, manage, and report risks effectively.
Job Qualifications
- The desired candidate is expected to have:
- Minimum of a first degree in a numerate field.
- Chartered accountant (ACA, ACCA) qualification would provide a strong advantage
- At least 10 years of banking experience which must include at the minimum Credit and Market Risk Roles
- Understanding of CBN prudential guidelines
- Understanding of Banking Operations
- High emotional intelligence and influencing skills
- Good teamwork and a visible partnership orientation
- Proven leadership strength and effectiveness
Job Details
Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.
28/03/25
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All appointments will be made in line with FirstRand Group’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.
